Daily News Digest September 29, 2022
Images of the Day:
Capitalism as a Failed System: World Capilalism Has Been Aware of the Comming Catastrophe of Global Warming Over 5 Decades Ago and Did Nothing!: Under Capitalism — Human Lives Don’t Matter Capitalism Does Not, and Never Has, Worked for the Masses! In Its Death Agony, Capitalism Is Traveling About The World Like The Four Horsemen of the The Apocalypse, Spreading Racism, War, Famine, Pestilence, and Death. The very future of Humanity Is Now At stake!
During This Economic Crisis, Capitalism’s Three-Point Political Program: 1.Austerity,2. Scapegoat Blacks, Minorities, and ‘Illegal’ Immigrants for Unemployment, and 3. The Iron Heel! For Decades, Blacks Have Been Subjected to The Iron Heel! Currently, the US Capitalist Class is Divided Over When — Not If, to Apply It to Everyone!
Due to Years of Austerity, Cuts to Public Health Care, And An Anti-Science and Profiteering President, The United States Now Leads the World In Coronavirus Cases and Deaths in the World!
Always Remember: That President Obama, With a Majority Democrat Legislature Supported the Wall Street Bailout and Remember, That he Established, in writing, the United States Capitalist Austerity Program. — The Race to the Bottom/Pauperization of the 99%!
Democracy?: As the Capitalist Robber Barons Steal from the 99%, Only the 1% Voted For Austerity! The 99% Should Decide On Austerity — Not Just The 1%, Who Profit From Austerity!! Under Austerity, All of the World Will Eventually Be Pauperized, Humbled, and Desecrated Like Greece and Puerto Rico.! Socialism Means True Democracy, that the 99% Will Rule, Not the Few!
Quotes of the Day:
Part of what academics do is generate ideas and teach. The other, perhaps more important part, is to play the role of “the Bu*l*hit Police.” Our job is to look at the ideas and plans interested parties put forward to solve our collective problems and see whether or not they pass the sniff test. Austerity as a route to growth and as the correct response to the aftermath of a financial crisis does not pass the sniff test.” ― Mark Blyth, Austerity: The History of a Dangerous Idea
Videos of the Day:
Tampa Update on Hurricane Ian: Millions Prepare for Cat. 5 Storm Fueled by the Climate Crisis
United States:
The United States is not a Democracy (A government in which the supreme power is vested in the people and exercised by them directly)! Only the 1%, through their ownership of the Reublicrats and who profit from war and the war budget, vote for War and the war budget — A policy, which Gore Vidal called a Perpetual War for Perpetual Peace. — The 99% Should Decide On War — Not Just The 1% Who Profit From War! Under a Democracy, The 99% would have the right to vote on the policy of Perpetual War for Perpetual Peace! The United States takes from the poor and gives to the Rich. Rax the Rich! — They Can Afford To Pay!
We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.” ― Louis Brandeis
The 1%’s Government : ‘Shameful’: Steny Hoyer, No. 2 House Democrat, Opposes Stock Trading Ban “Democratic House leadership,” noted one observer, is “shooting down a wildly popular messaging bill right before the midterms.”Progressives responded with indignation Tuesday after U.S. Rep. Steny Hoyer, the second-ranking Democrat in the House, stated his opposition to popular legislation that aims to restrict widespread stock trading by members of Congress, their spouses and dependent children, senior government officials, and federal judges, including those on the Supreme Court.
Why We Need #Tampons ForAll We should start treating menstrual products like what they are: a public good. Have you had a hard time finding tampons recently? You’re not alone. Tampons have been more difficult to come by in recent months especially if you live in certain states, like West Virginia, or have a preferred brand, which many people do. With headlines about tampon shortages, many are looking for answers.
Environment: Ecosocialism or Ecocide!:
America’s Hardest-Hit Communities Need Biden to Declare a Climate Emergency Wildfires, floods, heatwaves, hurricanes and drought are not waiting for politicians to act – the president must step in Millions of people across the United States have witnessed, often tragically, how the climate crisis is here and levying steep costs on communities. Black, Indigenous, and other frontline communities, including those in my home state of West Virginia, are experiencing these impacts – measured in lives lost, homes destroyed, and livelihoods upended – first and worst.
A Powerful Solution’: Activists Push to Make Ecocide an International Crime Movement aims to make the mass damage and destruction of ecosystems a prosecutable, international crime against peace California winemaker Julia Jackson has long grasped the threats posed by the ongoing global climate change crisis, from more intense wildfires and hurricanes to rising sea levels. But for her, those ideas crossed over from the abstract to the tangible when her home was razed by the Kincade wildfire that devastated her native Sonoma county in 2019. “I lost everything – all my belongings,” Jackson said. “It shook me to my core.” But Jackson didn’t just use the resources she’s accumulated through her second-generation proprietorship of the US’s ninth-largest wine company, Jackson Family Wines, to rebuild her life following that disaster. She’s since signed on to lead the US chapter of a global movement to make the mass damage and destruction of ecosystems a prosecutable, international crime against peace known as ecocide. Jackson and her compatriots in Stop Ecocide spent the last week in New York City, meeting with dignitaries participating in Climate Week events as well as the United Nations general assembly. They also marched from Foley Square to Battery Park in Manhattan in one of 450 strike demonstrations planned worldwide on 23 September as part of the Fridays for Future movement, which demands climate reparations and justice
Civil Rights/ Black Liberarion:
Labor:
Economy:
Shadow Government Statistics Daily Update September 27-29
- No inflation relief was suggested by the August 2022 Money Supply growth numbers. Amidst a continuing, 52-year peak flight to liquidity in August 2022, Basic Money Supply (Currency plus Demand Deposits — the best leading indicator of money-driven inflation — surged anew to an unprecedented 123.1% of its pre-Pandemic level, up 12.7% year-to-year, from 10.4% in July, while the broader money measures M2 and M3 began to stagnate. The Monetary Base increased as previously estimated by ShadowStats in August, although it appears to have pulled back some in September and a similar early assessment of thatseries, with a decline in Bank Reserves, nonetheless with another historic high level for Currency in Circulation.
- In today’s other numbers, August 2022 Real New Orders for Durable Goods declined 0.5% (-0.5%) in the month, up by 0.7% net of declining Nondefense Aircraft Orders.
- Nonsensically volatile New-Homes Sales surged 28.8% in August on top of upside revisions, per the Census Bureau, amidst some downturn in prices, while previously reported August Existing-Home Sales contracted by 19.9% (-19.9%) year-to-year, per the National Association of Realtors.
- Last week, the September 2022 FOMC’s 75-basis point (0.75%) hike in its targeted Federal Funds Rate was as expected intensifying the negative economic pressures desired by the Fed. Such was against an economic downturn that already meets the standard “Recession” definition.
- The surging Money Supply remains intact and is driving the inflation, not a moribund, not-overheating economy.
- Accordingly, orchestrated, intensifying economic deterioration will offer negligible promise of inflation relief. Separately, the FOMC economic and interest rate forecasts have proven worthless. As an aside, recent slowing in the headline CPI inflation primarily has reflected reduced gasoline prices (not surging interest rates).
- Yet, a rebound in gasoline prices already appears to be underway, likely to accelerate post-Election
Global Austerity!:
Michael Roberts: Energy, the Cost Of Living and SlumpHeading for recession • As the IMF puts it, “The global outlook has already darkened significantly since April. The world may soon be teetering on the edge of a global recession, only two years after the last one.” • The IMF has reduced its forecasts for global economic growth. Under its baseline forecast, the IMF now expects world real GDP growth to slow from last year’s 6.1 percent to 3.2 percent this year and 2.9 percent next year (2023). This forecast slowdown from 2021 to 2022 is the biggest one-year drop in economic growth in 80 years! • At the very least, global inflation rates are still likely to be much higher than before the COVID pandemic by this time next year – and at the worst, the global economy could have entered a new slump only three years from the last one. Graph: Household Wages Crashing Worldwide
Two Weeks to the Day After Florida Governor Ron DeSantis Played a Cruel Trick on Desperate Migrants, a Category 4 Hurricane Is Barreling Down on His State This morning, the words “catastrophic” and “dangerous” and “life threatening” are being used to describe Hurricane Ian, a category 4 hurricane that is expected to make landfall this afternoon on Florida’s Gulf Coast, then rip through the central and northern parts of the state.
World:
85% of Global Population Set to Live Under ‘Deadly’ Austerity Measures Next Year “In the worst of times, austerity is the worst possible choice,” said one expert. “It should not even be on the agenda.” The world is barreling toward an austerity pandemic. With countries across the globe facing major costs-of-living crises and looming recessions as prices remain high and central banks rush to slow economic demand, an analysis published Wednesday estimates that 85% of the world population will be living under austerity measures by next year as tens of millions face hunger, homelessness, and health crises.
The Special Crisis of British Capitalism Panic has set in following last Friday’s mini-Budget announcement by the Tory chancellor, as the pound collapses and borrowing costs soar. But the UK’s economic problems run deep. British capitalism is in a state of terminal decline. “I think the UK is behaving a bit like an emerging market turning itself into a submerging market,” said Larry Summers, former US Treasury Secretary, this week. Summers was commenting on Tory Chancellor Kwasi Kwarteng’s mini-Budget, which has caused a collapse of the pound on a worse scale than that seen in the early 1990s, after 9/11, or as a result of the 2008 financial crisis, Brexit, or COVID.
Free Market Genocides: The Real History of Trade From Ireland to India, free trade brought plunder, famine and death What role should greed play in how we run the world? Should it rule us and shape all that we do? I’d argue that we live under “greedocracy” disguised as a form of liberalism. Gussied-up as the only rational way, greed has become the guilt-free guiding star of global elites. But the grand narrative usually used to justify this world-shaping greed-is-good creed vigorously ignores salient history, and disingenuously suppresses data on greed’s present-day harms. This essay will walk you through why the “liberal world order’s” free markets are not really remotely in the business of maximizing flourishing—to rightly judge their track record requires reckoning with the greedocracy’s glossed-over genocides and hushed-up holocausts. Consider how “rational optimist” Steven Pinker paints the history of trade in his billionaire-beloved good-news-bearing bible, The Better Angels of Our Nature (its “the most inspiring book I’ve ever read” gushed Bill Gates, the prominent predatory philanthropist). In it Pinker preaches thinking “like an economist” using “the theory of gentle commerce from classical liberalism,” under which trade becomes “more appealing than … war.”
Education, Health, Science, and Welfare:
The government of the United States can pass laws in a few days to spend tens of trillions of dollars for war and the bailout of Wall Street and the bankers. Yet, those who ‘:’, pass universal healthcare for themselves, but they cannot spend even one trillion dollars for universal health for those who are ‘governed’! This is what is considered, by the powers to be, a democracy and part of the democratic way. — Roland Sheppard, Let the People Vote on Healthcare
‘The Kids Are Just Happier’: Could California’s Universal School Meal Program Start a Trend? Parents, teachers and anti-hunger advocates hail new free-meal system, saying it improves academic performance and wellbeing Before California became the first state to implement a universal meals program for its 6.2 million public school students, Alyssa Wells would keep granola bars in her classroom for students who complained of being hungry. When the new program began in August at Foussat elementary school in Oceanside, California, which is primarily attended by Latino students from low-income families, the teacher noticed immediate changes in her students. “The kids are eating way more and they’re more focused, eager to learn and they’re just happier,” she said. “They’ve got one less thing to worry about.” In San Diego county, where Oceanside is located, more than 14%, or 100,000 children, are food insecure, with a lack of consistent access to enough food for an active, healthy life.